Cohen Milstein Sellers & Toll PLLC Announces Investigation of Apogee Enterprises, Inc.

WASHINGTON–(BUSINESS WIRE)–Cohen Milstein Sellers & Toll PLLC is conducting an investigation to
determine whether Apogee Enterprises, Inc. (“Apogee” or the “Company”)
and certain of its officers and directors made false and misleading
statements and/or omissions in violation of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the
District of Minnesota by another law firm on behalf of purchasers of the
common stock of Apogee Enterprises, Inc. (NASDAQ: APOG) between June 28,
2018 and September 17, 2018, inclusive (the “Class Period”).

The complaint alleges that Apogee and certain of its officers and
directors (“Defendants”) misrepresented and/or failed to disclose that:
(1) Apogee lacked the required labor force in place to ramp-up its
production; (2) Apogee was unable to hire, train and retain new
employees; (3) Apogee’s productivity and margins would be negatively
impacted; and (4) as a result, Defendants’ statements about the Company’
business, operations, and prospects, were false and misleading and/or
lacked a reasonable basis.

On September 18, 2018, Apogee announced second quarter 2018 financial
results, reporting operating income of $1.7 million for its glass
segment, a decline from the $10.3 million in the previous year. Apogee
explained:

The lower operating margin was primarily driven by significantly
increased labor costs, lower productivity, and higher cost of quality,
as the segment was challenged to efficiently ramp-up production to meet
the higher than expected, short lead-time customer demand.

Apogee stated that its glass segment was overwhelmed with orders and
unable to meet rising demands. As a result, Apogee reduced its full-year
guidance, “primarily due to lower than expected second quarter results
and decreased profit expectations for Architectural Glass.” The Company
now anticipated revenue growth of 8 to 10 percent and earnings of only
$3.00 to $3.20 per diluted share, down from $3.35 to $3.55 per share.
During its earnings call held the same day, Apogee admitted it was
ill-prepared for the challenge of ramping-up production in its glass
factories: “[u]nfortunately, the slope of this recovery was
substantially steeper than we expected, and we struggled to rapidly ramp
up production levels in our factories.” The price of Apogee shares fell
from $48.22 on September 17, 2018 to $42.28 on September 18, 2018 to
$41.76 on September 19, 2018.

Cohen Milstein encourages all investors who purchased Apogee common
stock between June 28, 2018 and September 17, 2018, or former employees
with information concerning this matter to contact the firm.

If you are an Apogee shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein’s Managing Partner, Steven
J. Toll
at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com.
If you wish to serve as lead plaintiff, you must move the Court no later
than January 4, 2019 to request appointment. Any member of the proposed
class may retain Cohen Milstein or other attorneys to serve as your
counsel in this action, or you may do nothing and remain an absent class
member.

Cohen Milstein has significant experience in prosecuting investor class
actions and actions involving securities fraud, and is active in major
litigation pending in federal and state courts throughout the nation.
Cohen Milstein has taken a lead role in numerous important cases on
behalf of defrauded investors, and has been responsible for a number of
outstanding recoveries which, in the aggregate, total billions of
dollars. Prior results do not guarantee a similar outcome. For more
information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with
regard to your rights, please contact either of the following:

Steven
J. Toll, Esq.

Robin Bleiweis
Cohen Milstein Sellers & Toll
PLLC
1100 New York Avenue, N.W.
Fifth Floor
Washington,
D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com;
rbleiweis@cohenmilstein.com

Attorney Advertising

Contacts

Steven
J. Toll, Esq.

Robin Bleiweis
Cohen Milstein Sellers & Toll
PLLC
1100 New York Avenue, N.W.
Fifth Floor
Washington,
D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com;
rbleiweis@cohenmilstein.com

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